{"id":602569,"date":"2019-04-01T03:23:00","date_gmt":"2019-04-01T03:23:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2019\/04\/01\/raya-bod-agrees-to-medhat-khalils-mto\/"},"modified":"2019-04-01T03:23:00","modified_gmt":"2019-04-01T03:23:00","slug":"raya-bod-agrees-to-medhat-khalils-mto","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2019\/04\/01\/raya-bod-agrees-to-medhat-khalils-mto\/","title":{"rendered":"Raya BOD agrees to Medhat Khalil\u2019s MTO"},"content":{"rendered":"

M&A WATCH- Raya board agrees to Medhat Khalil\u2019s MTO: <\/b>Raya Holding\u2019s board of directors has approved a mandatory tender offer (MTO) from Chairman Medhat Khalil through his El Pharonia Real Estate Investment for nearly 37% of Raya (78.6 mn shares), according to an EGX disclosure (pdf)<\/a><\/u>. The MTO kicked off on 11 March<\/a><\/u> at EGP 5.53 per share, a slight premium to the EGP 5.35 at which it had last closed prior to the takeover bid.<\/p>\n

Background: <\/b>The Financial Regulatory Authority had ordered Khalil last year to submit an MTO for Raya or sell down his stake, arguing that he and related parties controlled a combined 42% of the outfit, a level of control that triggers the requirement for an MTO under securities regulations.<\/p>\n","protected":false},"excerpt":{"rendered":"

M&A WATCH- Raya board agrees to Medhat Khalil\u2019s MTO: Raya Holding\u2019s board of directors has approved a mandatory tender offer (MTO) from Chairman Medhat Khalil through his El Pharonia Real Estate Investment for nearly 37% of Raya (78.6 mn shares), according to an EGX disclosure (pdf). The MTO kicked off on 11 March at EGP […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8572],"tags":[72,7128,614,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-602569","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-enterpriseam","tag-ma-watch","tag-raya-holding","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"b9403bf0-bb0e-4ea3-afce-cbe78fd9e477","is_powered_by":true,"section_story_id":"6ccd21d6-f5cf-4796-ad96-55d1a0c0470d","story_type":"1","photo_url":"","photo_position":"above","related_issue":[602559],"teaser":"","voice_url":""},"yoast_head":"\nRaya BOD agrees to Medhat Khalil\u2019s MTO - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2019\/04\/01\/raya-bod-agrees-to-medhat-khalils-mto\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Raya BOD agrees to Medhat Khalil\u2019s MTO\" \/>\n<meta property=\"og:description\" content=\"M&A WATCH- Raya board agrees to Medhat Khalil\u2019s MTO: Raya Holding\u2019s board of directors has approved a mandatory tender offer (MTO) from Chairman Medhat Khalil through his El Pharonia Real Estate Investment for nearly 37% of Raya (78.6 mn shares), according to an EGX disclosure (pdf). The MTO kicked off on 11 March at EGP […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2019\/04\/01\/raya-bod-agrees-to-medhat-khalils-mto\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2019-04-01T03:23:00+00:00\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/04\/01\/raya-bod-agrees-to-medhat-khalils-mto\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/04\/01\/raya-bod-agrees-to-medhat-khalils-mto\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Raya BOD agrees to Medhat Khalil\u2019s MTO\",\"datePublished\":\"2019-04-01T03:23:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/04\/01\/raya-bod-agrees-to-medhat-khalils-mto\/\"},\"wordCount\":129,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"keywords\":[\"EnterpriseAM\",\"M&A Watch\",\"Raya Holding\",\"SPEED ROUND\"],\"articleSection\":[\"Speed Round\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/04\/01\/raya-bod-agrees-to-medhat-khalils-mto\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2019\/04\/01\/raya-bod-agrees-to-medhat-khalils-mto\/\",\"name\":\"Raya BOD agrees to Medhat Khalil\u2019s MTO - 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El Pharonia, owned by Raya Holding Chairman and CEO\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":594415,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/10\/29\/justice-ministry-rejects-medhat-khalils-mediation-request\/","url_meta":{"origin":602569,"position":1},"title":"Justice Ministry rejects Medhat Khalil\u2019s mediation request","author":"enterpriseam admin","date":"29 October 2019","format":false,"excerpt":"\u00a0DISPUTE WATCH- Justice Ministry rejects Medhat Khalil\u2019s mediation request: The Justice Ministry\u2019s dispute resolution committee has ruled that it has no subject-matter jurisdiction to mediate the ongoing dispute between Raya Holding\u2019s Chairman Medhat Khalil and the Financial Regulation Authority (FRA), the local press reports. 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Khalil is looking to cut down or overturn fines (details below) in\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":602927,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/04\/10\/medhat-khalil-acquires-26-7-of-raya-holding-shares-in-mto\/","url_meta":{"origin":602569,"position":4},"title":"Medhat Khalil acquires 26.7% of Raya Holding shares in MTO","author":"enterpriseam admin","date":"10 April 2019","format":false,"excerpt":"M&A WATCH- Medhat Khalil acquires 26.7% of Raya Holding shares in MTO: Raya Holding Chairman Medhat Khalil bought 26.7% (56.919 mn shares) of Raya Holding through his El Pharonia Real Estate Investment at a cost of EGP 314.76 mn in a mandatory tender offer (MTO) that ended on Sunday, the\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":621740,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/11\/18\/medhat-khalil-requests-deadline-extension-for-raya-mto\/","url_meta":{"origin":602569,"position":5},"title":"Medhat Khalil requests deadline extension for Raya MTO","author":"enterpriseam admin","date":"18 November 2018","format":false,"excerpt":"M&A WATCH- Medhat Khalil requests a deadline extension for Raya MTO: Raya Holding for Financial Investments founder Medhat Khalil has asked the Financial Regulatory Authority (FRA) to extend the 27 November deadline for him to make a mandatory tender offer for 100% of his company to January or February, he\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/602569","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=602569"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/602569\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/602559"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=602569"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=602569"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=602569"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=602569"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=602569"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}